For Leelanau County real estate, 2012 is off to a strong start. Through the first 4 months of 2012, transaction volume is up 25 percent from the same period last year, with average sales prices up as well, about 5%. The activity has been spread across property types, with primary single family residences driving the improvements, but waterfront and larger vacant properties also selling at an increased clip.
National trends like the steadily improving economy, strengthening consumer confidence, and sustained record low interest rates are sure to have contributed to this improvement. Home and property prices that are now at their most affordable in a generation have also attracted buyers back into the market.
Also contributing may be the substantial recent press the area has received: Last Summer's GMA recognition as "The Most Beautiful Place in America," Write-ups in Bon Appetit and The New York Times about our favorite summer chef-in-residence, Mario Batali, and our local food scene; A USNews designation as a Top 10 Place to Retire; and even a recent study naming us the "3rd Healthiest County in the Country". It's hard to support this with data, but anecdotal evidence suggests that people are beginning to take note.
If you have any questions about buying, selling or owning real estate in Leelanau County, please don't hesitate to contact us.